MITI Extended Scrap Metal Import Guidelines
The importation guidelines for ferrous, copper and aluminum scrap have now been extended until end-October this year, said the MITI statement.
SEATTLE (Scrap Monster): The Malaysian Ministry of International Trade and Industry (MITI) announced that the interim measures on guidelines for scrap metal imports into the country has been extended by another two months. The importation guidelines for ferrous, copper and aluminum scrap have now been extended until end-October this year, said the MITI statement.
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Earlier in June this year, MITI had announced that the interim measures for implementation of guidelines for the above scrap items were extended until 31st August, from the initial enforcement date of July 16th. The extended interim period will enable the industry to get it fully prepared for full inspections and implementation of the certificate of approval (COA). Meantime, paper inspections, which were due to be imposed this month, have also been delayed accordingly.
Meantime, the MITI stated that the industry has been quick in adhering itself to the revised criteria during the interim period. The interim period was granted so as to allow the Malaysian state inspection agency and foreign third-party inspectors to give necessary approval to exporting recycling facilities.
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Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.40 | $US/Lb |
#1 Copper Bare Bright | 4.17 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.81 | $US/Lb |
6061 Extrusions | 0.71 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 360.00 | $US/MT |
#1 Busheling | 380.00 | $US/MT |
Electronics Scrap |